Accor to service local apartments

Accor to service local apartments

JAKARTA (JP): PT Ometraco Realty, a private property firm,
yesterday assigned Accor Asia Pacific, an Australian affiliate of
France's Accor SA, to manage its apartments now being built in
West Jakarta with an investment of Rp 125 billion (US$57
million).

Under a 15-year agreement signed yesterday, Accor is required
to provide maintenance and security services for Ometraco's two
24-story towers of apartments and conduct leasing management of
Tower Two, Ometraco's president, F.X. Boyke Gozali, told
reporters.

Tower One of the apartment complex, called The Tropics, has
150 units and Tower Two has 204 units.

Gozali said that Tower One is 90 percent sold out under a
strata title, while tower two will be marketed next year under a
similar arrangement to buyers who will lease them to third
parties.

"Leasing apartments has now become a new alternative for
people who want to invest their money. They are likely to gain
more than saving money at banks," Boyke said, adding that people
who have bought units at Tower One have first priority in
purchasing units at Tower Two.

He said that through the service management system applied by
Accor, owners will be able to lease their apartments through
Accor.

Accor's Indonesian chief representative, Marc Steinmeyer, said
that the service will fill a niche between hotel services that
cater to the needs of short staying guests and the demand of
long-term tenants and residents.

"Tropics apartment will be in the same class as four-star
hotels," he said, adding that both expatriates and domestic
people visiting Jakarta for business will be the potential market
for the apartments.(icn)